Adesa Inc (NYSE:KAR) Institutional Investor Sentiment Trend

October 2, 2018 - By Marguerite Chambers

KAR Auction Services, Inc. (NYSE:KAR) Logo

Sentiment for Adesa Inc (NYSE:KAR)

Adesa Inc (NYSE:KAR) institutional sentiment decreased to 1.17 in Q2 2018. Its down -0.05, from 1.22 in 2018Q1. The ratio is negative, as 155 hedge funds increased or started new stock positions, while 132 cut down and sold their equity positions in Adesa Inc. The hedge funds in our partner’s database reported: 128.28 million shares, down from 129.13 million shares in 2018Q1. Also, the number of hedge funds holding Adesa Inc in their top 10 stock positions was flat from 7 to 7 for the same number . Sold All: 28 Reduced: 104 Increased: 106 New Position: 49.

KAR Auction Services, Inc., together with its subsidiaries, provides vehicle auction services in the United States, Canada, Mexico, and the United Kingdom. The company has market cap of $8.01 billion. It operates in three divisions: ADESA Auctions, IAA, and AFC. It has a 19.46 P/E ratio. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.

The stock decreased 0.27% or $0.16 during the last trading session, reaching $59.64. About 37,269 shares traded. KAR Auction Services, Inc. (NYSE:KAR) has risen 39.83% since October 2, 2017 and is uptrending. It has outperformed by 24.21% the S&P500.

Analysts await KAR Auction Services, Inc. (NYSE:KAR) to report earnings on October, 30. They expect $0.70 earnings per share, up 22.81 % or $0.13 from last year’s $0.57 per share. KAR’s profit will be $94.00M for 21.30 P/E if the $0.70 EPS becomes a reality. After $0.82 actual earnings per share reported by KAR Auction Services, Inc. for the previous quarter, Wall Street now forecasts -14.63 % negative EPS growth.

Snyder Capital Management L P holds 5.04% of its portfolio in KAR Auction Services, Inc. for 1.94 million shares. Cardinal Capital Management Llc Ct owns 2.35 million shares or 4.2% of their US portfolio. Moreover, Gates Capital Management Inc. has 3.93% invested in the company for 2.54 million shares. The Michigan-based Provident Investment Management Inc. has invested 3.69% in the stock. Reinhart Partners Inc., a Wisconsin-based fund reported 506,143 shares.

KAR Auction Services, Inc. (NYSE:KAR) Ratings Coverage

Ratings analysis reveals 33% of KAR Auction Services’s analysts are positive. Out of 3 Wall Street analysts rating KAR Auction Services, 1 give it “Buy”, 0 “Sell” rating, while 2 recommend “Hold”. KAR was included in 3 notes of analysts from April 17, 2018. As per Thursday, August 9, the company rating was maintained by Robert W. Baird. The stock has “Hold” rating by Gabelli on Thursday, August 9.

More news for KAR Auction Services, Inc. (NYSE:KAR) were recently published by: Seekingalpha.com, which released: “The Reverse Synergy Play – The Idea Guide” on September 25, 2018. 247Wallst.com‘s article titled: “Double Upgrades in One Day for Auto Parts” and published on September 17, 2018 is yet another important article.

KAR Auction Services, Inc. (NYSE:KAR) Institutional Positions Chart

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